Fidelis Insurance Holdings Limited (NYSE:FIHL) Given Average Rating of “Hold” by Brokerages

Fidelis Insurance Holdings Limited (NYSE:FIHL) has been assigned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $22.3571.

A number of brokerages recently issued reports on FIHL. The Goldman Sachs Group set a $17.50 price objective on shares of Fidelis Insurance in a report on Saturday, January 17th. Evercore set a $21.00 target price on shares of Fidelis Insurance in a report on Wednesday, January 7th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $21.00 price target (up from $19.00) on shares of Fidelis Insurance in a research report on Wednesday, January 7th. Weiss Ratings raised shares of Fidelis Insurance from a “hold (c)” rating to a “buy (b)” rating in a report on Friday, March 6th. Finally, Wall Street Zen cut shares of Fidelis Insurance from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th.

Fidelis Insurance Price Performance

Shares of FIHL opened at $19.11 on Wednesday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.35. Fidelis Insurance has a 1 year low of $14.67 and a 1 year high of $20.50. The stock has a market cap of $1.85 billion, a P/E ratio of 8.65 and a beta of 0.25. The stock’s 50-day moving average price is $19.18 and its two-hundred day moving average price is $18.77.

Fidelis Insurance (NYSE:FIHL) last announced its quarterly earnings results on Thursday, February 26th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.13. The company had revenue of $600.90 million during the quarter, compared to analysts’ expectations of $756.14 million. Fidelis Insurance had a return on equity of 8.62% and a net margin of 9.02%. On average, equities analysts predict that Fidelis Insurance will post 3.12 earnings per share for the current year.

Fidelis Insurance announced that its Board of Directors has initiated a stock repurchase program on Friday, February 20th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the company to purchase up to 18% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Fidelis Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 16th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, March 16th. Fidelis Insurance’s payout ratio is presently 27.15%.

Hedge Funds Weigh In On Fidelis Insurance

Several institutional investors have recently modified their holdings of FIHL. Focus Partners Wealth acquired a new position in shares of Fidelis Insurance in the 3rd quarter valued at approximately $77,000. Ameritas Investment Partners Inc. raised its holdings in Fidelis Insurance by 15.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,088 shares of the company’s stock worth $101,000 after buying an additional 810 shares during the period. Tower Research Capital LLC TRC raised its holdings in Fidelis Insurance by 58.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,786 shares of the company’s stock worth $129,000 after buying an additional 2,885 shares during the period. First Trust Advisors LP bought a new position in Fidelis Insurance in the second quarter valued at approximately $169,000. Finally, Quadrant Capital Group LLC bought a new position in Fidelis Insurance in the third quarter valued at approximately $193,000. Institutional investors own 81.99% of the company’s stock.

About Fidelis Insurance

Fidelis Insurance Holdings Ltd is a Bermuda‐incorporated specialty insurer and reinsurer that underwrites a broad range of liability and property risks. Founded in 2015, the company completed its initial public offering on the New York Stock Exchange in 2016 under the ticker FIHL. Fidelis focuses on providing tailored solutions for complex risks that traditional insurers may find difficult to accommodate, leveraging data analytics and underwriting expertise to structure policies across diverse industry segments.

The company’s product portfolio spans casualty lines—including general liability, excess and umbrella, professional indemnity, and management liability—alongside property, marine, energy and specialty programs.